Next, set the Foreground Color to a variant of blue (I used #7AA6E8) and set the Background Color to Black #000000.

Next, go to 'Filter/Render/Clouds' to that your first effect is similar to what I have captured below.

Next, go to 'Filter/Render/Fibers' and select a setting that your
comfortable with, so that you can see (though in vertical direction)
varying crests of waves within the render. (My settings are captured
below)

Your document preview should look like the below. (Ultimately, adjusting the 'Fibers' Variance' level is up to you)

Here is what the Layers Palette should look like!

Next, we need to revert the direction of the water to a horizontal position. So, simply, go to 'Image/Rotate Canvas. 90 CW'
to position the image as I have captured below. (This is why I used an equal size preset so that there would be no further
resizing or positioning!)

Looking good so far! From here it's simply a matter of adjusting
varying color and adding some gradient layers for sky and mist effects.

First, lets tone down the contrast in this image by
duplicating the water Layer 1, and change the 'Blending Mode' to
'Screen', and bump down the 'Opacity' level to one that you are
comfortable with.

Create a new empty Layer, (should auto name to 'Layer 2' at this point)
directly above Layer copy 1. (Shift + Ctrl + N (Mac: Shift + Command +
N))
Your 'Foreground Color' should still be the variant of blue (#7AA6E8) that we set earlier. Then select the
'Gradient Tool (G)' on the 'Toolbar', and up on the 'Options Bar', select the 'Foreground to Transparent' preset from
within the 'Gradient Preset Picker'.

Select the 'Linear Gradient Tool' and the 'Blending Mode' to 'Normal', with 'Transparency'.

With the new empty 'Layer 2' (that we created above) active and the
'Gradient Tool (G)' still selected, click and drag the just beyond the
midway area of your water texture (red circle).

And this is the result.

Here is the Layers Palette thus far.

Create a new empty Layer, (should auto name to 'Layer 3' at this point)
directly above Layer 2. (Shift + Ctrl + N (Mac: Shift + Command + N))
In this Layer we will create the dividing mist area between water and sky.

Set the Foreground Color to White (#ffffff), Background Color to Black (#000000). Then select the
'Gradient Tool (G)' on the 'Toolbar', and up on the 'Options Bar', select the 'Foreground to Transparent' preset from
within the 'Gradient Preset Picker'.

Except, this time change the gradient style to 'Reflected Gradient' and the 'Blending Mode' to 'Normal', with 'Transparency'.
Then in at the mid area of the image click and drag a short distance.

To produce the below result.

I nudged the Layer 3 mist Layer downward a few notches with the Down
Arrow key, and knocked its Opacity Level down to 66%. (Ultimately, you
adjust to what your happy with!)

Here's how it looks thus far.

This and of itself is fine, but just another step to add clouds to the skyline.

Simply duplicate 'Layer 2', so that your Layers Palette looks like the below.